It is almost judgment day for swindler Bernard Madoff, as he’ll be in court Monday for sentencing. He’ll also come face-to-face with his victims.
In court, Madoff will get an earful from the victims, who will face him and tell him how they have suffered. They want the judge to make sure the swindler never sees even a second of freedom.
“Everyone had so much trust in him, and he betrayed everyone,” Madoff investor Sharon Lissaur says.
Lissaur is among those who will speak at Madoff’s sentencing. The former fashion model says she was wiped out after investing every penny of savings and inheritance with Madoff.
“I just want him to hear how he has ruined and destroyed my life,” she says.
Lissaur is one of an estimated 8,000 victims. Madoff bilked investors out of an estimated $65 billion in the biggest financial fraud in history, and pleaded guilty to 11 criminal counts related to his Ponzi scheme. The 71-year-old could be sentenced to 150 years in prison.
But Madoff’s attorneys asked the sentence to be a mere 12 years, calling that a “humane” punishment.
“I would like to see him get a lifetime imprisonment, and not in one of the fancy country club jails,” victim Rose Less says.
Rose and Jack Less say they’re out $800,000 because of Madoff. What makes their case more heartbreaking is the Securities Investor Protection Corporation will hand out money to other Madoff victims, but not to them. The SIPC has a formula that excludes the Less’ because they withdrew money over the years.
“They were victimized obviously by Madoff, and now seemingly they are victimized again by the SIPC trustee, and essentially the SEC too,” Less family attorney Barry Lax says.
“We started to sell our furniture, some of our things that we value, so we should have some money immediately,” Rose says.
On Friday, a federal judge ordered Madoff to forfeit $170 billion in assets. His wife, Ruth, must also give up $80 million of her assets, but that still leaves her with $2.5 million.
(Source: WCBSTV)
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One Response
What does that mean a “humane” punishment !!! He deserves to rot in Jail until his “Afar B’efer”! He caused thousands of people to go broke. He isn’t Humane, how could they give him a humane punishment!!